Initial cues from the U.S. Futures Index suggest that Wall Street might open broadly down on Friday. The monthly jobs report might be the spotlight. The market is closely watching President Trump’s policy moves and the meeting with Japanese Prime Minister Shigeru Ishita today.
On the earnings front, online retail giant Amazon (AMZN) is among the companies releasing their quarterly results after the close of today’s trading.
In the Asian trading hours, gold gained, while oil prices remained lower.
As of 7.50 am ET, the Dow futures were adding 16.00 points, the S&P 500 futures were down 0.75 points and the Nasdaq 100 futures were sliding 4.50 points.
The U.S. major averages finished broadly up on Thursday. The Nasdaq climbed 99.66 points or 0.5 percent to 19,791.99 and the S&P 500 rose 22.09 points or 0.4 percent to 6,083.57, but the narrower Dow fell 125.65 points or 0.3 percent to 44,747.63.
On the economic front, the Employment Situation for January will be issued at 8.30 am ET. The consensus is for an increase of 168,000, while it was up 256,000 in the prior month. The Manufacturing Payrolls is expected to increase by 5000, while it was own 13,000 in the prior month. The average hourly earnings were up 0.3 percent, while it was up 0.3 percent in the prior month.
The Consumer Sentiment for February is scheduled at 10.00 am ET. The consensus is for an increase 72.0, while it was up 71.1 in January.
The Wholesale Inventories (Preliminary) for December will be released at 10.00 am ET. The consensus is for a decline of 0.5 percent, while it was down 0.2 percent in the previous month.
The Baker Hughes Rig Count for the week will be revealed at 1.00 pm ET. In the prior week, the North America rig count was 840 and the U.S. rig count was 582.
The Consumer Credit for December will be issued at 3.00 pm ET. The consensus is for $16.0 billion, while it was down $7.5 billion a month ago.
Asian shares ended mixed on Friday. China’s Shanghai Composite Index gained 1.0 percent to 3,303.67 and Hong Kong’s Hang Seng Index climbed 1.2 percent to 21,133.54.
Japanese markets fell notably. The Nikkei 225 Index slid 0.7 percent to 38,787.02, while the broader Topix Index settled 0.5 percent lower at 2,737.23.
Australian markets ended modestly lower. The benchmark S&P/ASX 200 Index edged down 0.1 percent to 8,511.40, while the broader All Ordinaries Index finished marginally lower at 8,780.30.
Business News
Wall Street Poised To Open Broadly Lower
2025-02-07 13:16:11
